Why Internet Research Isn't Enough for Franchise Success

I was working with a client the other day, and we discussed some specific companies that I thought would be a great fit for him. He had completed the Entrepreneurial Profile, which I've talked about in another video. During our one-hour consultation, we built a really good business model and I recommended three companies that I felt would be a good fit for him.

Why Online Searches Fall Short

He said, "Hey, you know what, Page? Those are great choices. I'm going to go home and investigate these myself on the internet." I told him that this is a typical response. I explained that when I do my own research, whether it's on vacation, or for a house or car purchase, there’s a lot of information out there that I can do on my own. I don’t always need someone to take me through the entire process right away.

As I mentioned in another video, you’re not going to find a lot of information about these companies on the internet. This is an organic process, as I've discussed before. We need several calls with the franchisor to talk about things like unit economics, marketing, training, and support. We also need to talk to the franchise owners themselves, something I’ve mentioned is probably the most important step you can take.

The Power of Talking to Franchisors & Owners

There’s a lot of work that goes into this. When I sit down with clients, I let them know right away that they’ll probably need to invest between five to ten hours a week into this research process. And no, this isn’t something you can just do on nights and weekends. Many of the calls with franchise owners and franchisors, as well as much of the research, will need to be done during business hours.

Can You Commit to the Research Process?

The first thing you need to ask yourself is: Can I afford to dedicate five to ten hours a week to this process? The amount of time might change depending on where you are in the process. I say this because I wouldn’t want anyone to make a decision simply based on what they find on the internet. There isn’t a lot of information out there, and that’s where I come in as a franchise expert.

I use a four-step research process to take people through to help make sure they understand how the process works. I’d be happy to explain it to you a little more, including my clients’ experiences when they’ve tried to conduct research on their own, so you can see why putting in the time and effort is so important.

If you’re curious to learn more, click on my QR code and schedule a 15-minute call. I can explain how it works and we can see where it goes from there.